MTR CORPORATION(00066)

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港铁在建工程被指用非合约指定墙砖!回应称要求总承建商核查
Nan Fang Du Shi Bao· 2025-08-26 02:56
正在兴建的港铁东涌线延线东涌东站工程被曝出,承建商未按照合同规定在车站设备房间的墙砖上使用 指定的德国品牌材料,而是选用了内地墙砖。25日晚,港铁回应南都记者称,较早前已接获投诉信件, 关注工程合约中使用的一些材料。公司在收到信件后已开展调查工作,并向总承建商查询,要求其核查 有关情况并就事件提供全面的报告。后续,港铁将会对报告进行独立检查及核实。 港铁称,上述事件中提到的材料,为用来砌造车站设备房间的非结构性间隔墙砖材,由总承建商通过招 标聘用的分包商负责采购及进行工程作业。目前总承建商已向港铁确认相关批次砖材将不会在本次工程 中使用。港铁称,将与总承建商继续跟进有关调查,并督导其按合约、按时、按质、按量完成工程。 日前,香港铁路有限公司(下称"港铁")东涌线延线东涌东站工程被曝出,承建商未按照合同规定在车 站设备房间的墙砖上使用指定的德国品牌材料,消息引发关注。8月25日晚,港铁回应南都N视频记者 称,公司已接获投诉信件并开展调查工作,要求总承建商核查有关情况并就事件提供全面的报告。相关 材料将不会在本次工程中使用。 据悉,港铁东涌线延线项目将会在现有欣澳站及东涌站之间,加建东涌东站。为将现有路轨接驳至未 ...
里昂:降港铁公司评级至“持有” 目标价降至27港元
Zhi Tong Cai Jing· 2025-08-21 07:12
该行下调2025和2026年经常性溢利预测28%/33%。该行指,资本开支上升亦可能令港铁2026及2027年经 调整净负债权益比率分别上升至46%及55%;该行调低港铁2027年的营运资金与净负债比率预测至14%。 里昂指,以每年4.8%的股息率计算,认为港铁的风险回报不吸引,亦不排除会发行可转换债券,甚至 股票的可能性。 里昂发布研报称,港铁公司(00066)经常性溢利增长仍然疲弱,因为开支增长可能会拖累溢利,而收入 仍然疲弱。该行将目标价由30港元下调至27港元,并将评级由跑赢大市下调至持有。 ...
港铁:旗下所有商场出租率均达100% 未来先推屯门A16地段项目
Zhi Tong Cai Jing· 2025-08-21 06:29
楼市方面,他指出近期楼市交投及卖楼量上升,反映出市场有复苏趋势。港铁将会积极研究市场需求, 未来将推出两个新项目。 他又指,集团将优先推出屯门A16地段项目,面积达400万平方呎。他亦透露推出招标的第一期地皮达 数十万平方呎,逾千个单位,地皮只涵盖住宅,不会涉及商场部分。第二个将推出东涌项目。但他强 调,市场环境一直改变,所以集团亦一直改变销售部署,未来计划亦有可能会改变。 为适应新常态,港铁积极调整策略,定期淘汰不受欢迎的商户,引入新品牌以丰富顾客选择并满足消费 需求。凭借与铁路的无缝连接及商场上盖住宅区带来的稳定客源,港铁商场维持稳定客流,所有商场出 租率均达100%。 邓智辉强调,餐饮是港铁商场的重要支柱,因香港人外出用餐频率高,餐饮板块表现稳健。集团未来将 进一步守住餐饮业务,旗下商场餐饮占比已从过去的约20%提升至30%,未来比例有望继续上升。 港铁(00066)物业及国际业务总监邓智辉表示,受香港零售市场低迷及消费模式转变影响,租户需正视 现实并积极适应新常态。未来港铁将重点巩固餐饮板块,目前旗下所有商场出租率均达100%。另外, 集团未来将优先推出屯门A16地段项目,第二个推出东涌项目。 近年来 ...
大行评级|里昂:下调港铁目标价至27港元 评级降至“持有”
Ge Long Hui· 2025-08-21 03:25
Core Viewpoint - The report from Credit Lyonnais indicates that MTR Corporation's recurring profit growth in the first half remains weak due to rising expenses potentially dragging down profits, while revenues also remain weak [1] Financial Performance - Credit Lyonnais has lowered its recurring profit forecasts for MTR Corporation by 28% for 2025 and 33% for 2026 [1] - The increase in capital expenditures may lead to adjusted net debt-to-equity ratios rising to 46% and 55% for 2026 and 2027, respectively [1] Investment Outlook - Based on a dividend yield of 4.8% per year, Credit Lyonnais finds MTR Corporation's risk-reward profile unattractive and does not rule out the possibility of issuing convertible bonds or even stocks [1] - The target price for MTR Corporation has been reduced from HKD 30 to HKD 27, and the rating has been downgraded from "Outperform" to "Hold" [1]
港铁“猫狗同行”轻铁试行计划9月起转为常态化服务
Xin Hua Wang· 2025-08-20 20:30
新华社香港8月20日电(记者王昕怡)香港铁路有限公司(港铁)20日宣布,"猫狗同行"轻铁试行计划 上线3个多月来,已有逾1300名乘客购买"猫狗同行证"。经审慎评估,该计划将于9月起转为常态化服 务,并沿用相关细则,以推动社区共融。 该计划于5月1日起在轻铁全线启动试行,允许每位宠物主人在每周六、日及公众假期携带猫狗搭乘轻 铁。原定两个月的试行期已延长至四个月,现从9月起转为常态化服务,依旧仅限周末与公众假期开 放,在兼顾不同乘客出行需求的同时,着力共建友善乘车环境。 根据规定,携带猫狗的乘客除正常支付本人车费外,须购买并持有"猫狗同行证",警犬及导盲犬不在此 限。宠物主人需按指定时间、位置及方式等细则,携带猫狗搭乘轻铁。 港铁表示,公司于试行期间开展了意见调查,涵盖携带宠物的乘客及非宠物主人,超过95%的受访者对 计划给予正面评价,认可港铁此举在推动共融社区上的努力。港铁也邀请香港爱护动物协会及亚洲动物 基金的义工带猫狗乘搭轻铁并实地观察,发现超九成的宠物主人能遵守乘车细则,且宠物乘车时表现平 静,能与其他乘客和谐共处。 港铁公司车务营运及本地铁路总管李婉玲表示,港铁会继续与持份者沟通,持续留意实施情况,致 ...
智通港股沽空统计|8月20日
智通财经网· 2025-08-20 00:24
Summary of Key Points Core Viewpoint - The report highlights the top short-selling stocks in the market, indicating significant investor sentiment and potential market movements based on short-selling ratios and amounts. Group 1: Top Short-Selling Ratios - The top three stocks with the highest short-selling ratios are New World Development (100.00%), Hang Seng Bank (95.70%), and JD.com (92.60%) [1][2] - Other notable stocks with high short-selling ratios include Lenovo Group (90.03%) and Xiaomi Group (89.73%) [2] Group 2: Top Short-Selling Amounts - Tencent Holdings leads in short-selling amount with 2.243 billion, followed by Xiaomi Group at 1.941 billion and Alibaba at 1.288 billion [1][2] - Other significant short-selling amounts include Meituan (842 million) and Ctrip Group (815 million) [2] Group 3: Top Short-Selling Deviation Values - Hang Seng Bank has the highest deviation value at 47.89%, followed by Xiaomi Group at 40.17% and Lenovo Group at 35.95% [1][2] - Other stocks with notable deviation values include JD.com (35.62%) and New World Development (35.46%) [2]
星展:上调港铁目标价至31.15港元
Zheng Quan Shi Bao Wang· 2025-08-18 07:12
星展报告指出,港铁公司上半年基本业务利润增长55%至89.3亿港元,超出预期。报告预测,随着住宅 项目落成量增加,物业发展利润在2025至2026年将大幅增长,分别为128亿及107亿港元。该行认为港铁 住宅业务的增长将对其未来盈利和股价有利,因此将目标价由30.3港元上调至31.15港元,并维持"买 入"评级。 ...
大行评级|星展:上调港铁目标价至31.15港元 维持“买入”评级
Ge Long Hui· 2025-08-18 05:49
Core Viewpoint - DBS published a research report indicating that MTR Corporation's basic business profit increased by 55% to HKD 8.93 billion, exceeding expectations [1] Group 1: Financial Performance - MTR Corporation's basic business profit for the first half of the year reached HKD 8.93 billion, reflecting a significant growth of 55% [1] - The increase in residential project completions is expected to lead to a substantial rise in property development profits, projected to reach HKD 12.8 billion and HKD 10.7 billion in the fiscal years 2025 and 2026, respectively [1] Group 2: Future Outlook - The continuous growth in MTR's residential business is anticipated to positively impact its future profitability and stock performance [1] - DBS raised its target price for MTR from HKD 30.3 to HKD 31.15 while maintaining a "Buy" rating [1]
港铁公司(0066.HK):物业处收获期 但经常利润低于预期
Ge Long Hui· 2025-08-16 19:52
Core Viewpoint - Hong Kong MTR Corporation reported a mixed performance for the first half of 2025, with total revenue declining by 6.5% year-on-year to HKD 27.4 billion, while net profit attributable to shareholders increased by 27.5% to HKD 7.709 billion, driven by significant growth in property development profits [1] Group 1: Financial Performance - Total revenue for 1H25 was HKD 27.4 billion, a decrease of 6.5% year-on-year [1] - Net profit attributable to shareholders reached HKD 7.709 billion, up 27.5% year-on-year [1] - Regular business profit was HKD 3.391 billion, down 15.7% year-on-year, while property development profit surged to HKD 5.542 billion, an increase of 218.5% [1] - Fair value loss on investment properties amounted to HKD 1.224 billion, compared to a gain of HKD 0.28 billion in 1H24 [1] Group 2: Operational Insights - Hong Kong's rail operations generated revenue of HKD 11.5 billion, a year-on-year increase of 3.3%, but EBIT fell by 76% to HKD 0.98 billion due to rising employee costs and inflation [2] - The company plans to increase ticket prices by approximately 3% in the 2024/25 fiscal year, but will freeze prices in 2025/26, expecting ticket prices to remain stable in the second half of 2025 [2] - New rental agreements for station shops and malls saw declines of 7.0% and 7.8% respectively, reflecting a lag in retail recovery [3] Group 3: Property Development - Property development profits reached HKD 5.542 billion, primarily driven by projects in Ho Man Tin and South Island, with a significant year-on-year increase of 218.5% [4] - The private residential price index in Hong Kong showed signs of recovery, with a cumulative increase of 0.6% in the second quarter of 2025 [4] - The company anticipates a peak in capital expenditures, projecting HKD 140 billion for new railway projects from 2023 to 2034 [4] Group 4: Profit Forecast and Valuation - The company revised its net profit forecasts for 2025-2027 down by 11%, 3%, and 17% to HKD 18.1 billion, HKD 21 billion, and HKD 11 billion respectively [4] - The target price was adjusted to HKD 29.9 from HKD 31.9, based on a discounted cash flow (DCF) valuation and a capitalization rate for investment properties [4]
港铁公司(00066):香港物业发展利润大增,驱动 H1 净利增长
SINOLINK SECURITIES· 2025-08-15 15:26
Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of 5% to 15% over the next 6 to 12 months [6][13]. Core Insights - The company reported a revenue of HKD 27.36 billion for H1 2025, a year-on-year decrease of 6.5%, while the net profit attributable to shareholders was HKD 7.709 billion, reflecting a year-on-year increase of 27.5% [2][4]. - The growth in net profit was primarily driven by a significant increase in profits from property development in Hong Kong, which rose by 219% year-on-year, contributing to an overall EBIT of HKD 10.2 billion, up 31% [4][5]. - The company is actively pursuing 10 residential property development projects, with expected profits from these projects to continue in H2 2025 [5]. Financial Performance - Revenue breakdown for H1 2025 shows: - Hong Kong transport operations: HKD 11.5 billion, up 3.3% year-on-year - Hong Kong station commercial: HKD 2.6 billion, down 0.6% - Mainland China and international business: HKD 10.2 billion, down 18.1% - Hong Kong property leasing and management: HKD 2.7 billion, down 1.2% [3][4]. - The company’s EBIT margin improved by 1 percentage point to 37%, with a net profit margin increase of 8 percentage points to 28% [4]. Earnings Forecast - The company’s net profit forecasts for 2025 to 2027 are HKD 17.1 billion, HKD 17.4 billion, and HKD 12.3 billion, respectively [6].